Are Alternate Credit Scores Worth the Trouble?

12/27/2017
 
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Are Alternate Credit Scores Worth the Trouble?  Based on a couple of articles we’re looking at, they might not be.

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Comments
  • FICO is the worst thing that was ever adopted by lenders. In the old days we used our brains to analyze a borrower. We ran a credit report, checked tax returns, source of down payment and references to verify employment. If an applicate had a department store card that had a 30 day delinquent we ignored it as for some reason they always showed a delinquent. We would actually talk with the borrower and let them explain why as the card was usually explainable as it was usually inaccurate.

    Donald Stump December 27, 2017 9:15 am Reply

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